SKMCH Peshawar, UNHCR sign MoU

PESHAWAR (PR): A memorandum of Understanding was signed between United Nations High Commissioner for Refugees (UNHCR) and Shaukat Khanum Memorial Cancer Hospital Peshawar.

The ceremony was held in SKMCH&RC building where representative for the UN refugee commission in Pakistan, Ruvendrini Menikdiwela and CEO SKMCH&RC Dr Faisal Sultan signed the document. At this moment prominent members from SKMCH&RC and UNHCR were also present.

At the arrival at SKMCH&RC Peshawar, the distinguished guests from UNHCR were brought around the different facilities of the hospital.

A briefing was given to them about state of the art cancer treatment facilities being provided over there to the underprivileged cancer patients in Peshawar.

As per this MoU, UNHCR will provide state of the art cancer cure treatment machines to SKMCH& RC Peshawar. These machines include Linear Accelerators (High Energy) Varian Vital Beam, CT Simulator 4D Toshiba Aquiline Machine, Varian ARIA 15 (Eclipse) Treatment Planning System and Peripherals (Immobilizations, PTW Dosimetry).

Speaking on the occasion representative from UNHCR said "I am here for the first time and very happy to see the world class cancer treatment and equipment's available in SKMCH&RC".

Talking about the MoU, she added, purpose of this MoU is to facilitate Shaukat Khanum Memorial Cancer Hospital in providing free cancer treatment to the poor cancer patients belonging to different areas of Pakistan.

Dubai Islamic Bank, SAF sign MoU

KARACHI (PR): Dubai Islamic Bank Pakistan &Shahid Afridi Foundation join hands to work towards empowering underprivileged communities across Pakistan.

This MoU will help to facilitate in enhancing the reach to the deprived sectors of the society by providing basic necessities of life. Dubai Islamic Bank Pakistan would support SAF's mega projects from its charity fund and will facilitate in accepting the donations in SAF accounts in all its branches.

SAF will provide assistance in the area of Education, availability of clean drinking water and Healthcare.

The MoU was jointly signed by Junaid Ahmed CEO Dubai Islamic Bank-Pakistan and Shahid Afridi Global Chairman SAF&Mr. Zeeshan Afzal, Global CEO, SAF. Senior officials from both sides were also present at the occasion.

Speaking on the occasion Junaid Ahmed said that "As a Corporate Social Responsible entity, Dubai Islamic Bank Pakistan has supported philanthropic activities partnering with major NGO's of the country. I wish that all our collaborative efforts may produce the desired results and brings betterment in the society".

Zeshan Afzal, Global CEO - SAF spoke about SAF's initiatives and its collaboration with Dubai Islamic Bank Pakistan, "SAF has undertaken different initiatives in Health, Clean Water and Sports Rehabilitation with a special focus on its education project. This partnership with Dubai Islamic Bank Pakistan would further assist SAF to resolve and empower the less privileged communities. SAF aims to uplift the underprivileged communities in Pakistan with the help of corporate community under their CSR initiatives"

Azimut, Alfalah investments sign agreement

KARACHI (PR): Alfalah GHP Investment Management Limited ("Alfalah Investments"), a prominent Pakistani asset management company, and Azimut Group ("Azimut"), Europe's leading independent asset manager with over $57billion in assets under management across 17 countries, have signed an agreement to jointly launch an international equity fund focused exclusively on Pakistan's stock market.

This equity fund, branded as AZ - Alfalah Pakistan Equity Fund (the "Fund") will capitalize on the track record of Alfalah GHP Stock Fund, one of the leading local equity funds over the last decade.

The Fund will be established by AZ Fund Management SA, Azimut's Luxembourg fund Management Company, within its UCITS umbrella fund and will be open to international investors. This investment advisory agreement is part of a broader strategic cooperation between the two firms including the establishment of a joint investment committee between Luxembourg and Karachi for the Fund and launch of joint commercial initiatives with the aim of bringing a suite of wealth management services focused on Pakistan for global investors.

Soneri Bank financial statements approved

KARACHI (PR): The annual financial statements of Soneri Bank Limited for the year ended 31 December 2017 were approved by the shareholders of the Bank in its 26th AGM held on Friday, 30 March, 2018. The meeting was chaired by Alauddin Feerasta, chairman of the Bank. Bank declared Rs.1.64 billion after tax profit for the year ended 31 December 2017. The shareholders also approved a cash dividend of Re 0.75 per share, which was recommended by the Board of Directors in their meeting held on 20 February 2018.

The chairman briefed the shareholders that key reasons for sustained performance in 2017 were continued focus on core area of activity advances, deposits and trade and strategic positioning which allowed the Bank to maintain its earnings from both investments and non-markup sources in prevailing low interest rate environment and reduced spreads.

The deposits grew by 8.30% over 2016 and net advances recorded a growth of 31.11% over 2016. Bank's net assets (including surplus) amounted to Rs.18.50 billion as at 31 December 2017.

Huawei announces 2017 business results

LAHORE (PR): Huawei has released its audited financial results for 2017, reporting solid business growth. The company's total annual revenue was $92.5 billion based on year-end exchange rates, an increase of 15.7% over 2016. Net profits were $7.3 billion, an increase of 28.1% year-on-year.

In Huawei's consumer business, the Huawei and Honor brands ran full speed ahead, leading to rapid growth in their respective markets. Huawei shipped a total of 153 million smartphones (including Honor) in 2017, and reported $36.4 billion in annual revenue, up 31.9% year-on-year.

 Workshop on 'Inclusive Insurance'

LAHORE (PR): Pakistan Microfinance Network (PMN) and the Micro insurance Network (MiN) jointly organized the 2-day workshop on 'Increasing Access to Inclusive Insurance' at a local hotel in Lahore. Chairman of the Board of Pakistan Microfinance Network (PMN), Syed Nadeem Hussain inaugurated the workshop with leaders of the sector in attendance. Nadeem iterated the importance of innovation given the overall low penetration of life and health insurance in Pakistan and the bulk of life and health clubbed with credit products. He also emphasized the importance of creating independent products that go beyond life and health.

Katharine Pulvermacher, Executive Director of the Microinsurance Network (MiN), gave an overview of the role of the micro insurance industry globally and within the Pakistani context, emphasizing how inclusive insurance provides crucial underpinning for sustainable development.

It is designed to meet the needs of emerging consumers and plays a critical role in preventing households from falling back into poverty after a financial shock. It is therefore an important enabler in the economic and social development of a country and in the achievement of the United Nations' Sustainable Development Goals (SDGs).